Monthly Archives: August 2017

Demonetisation Impact on Black Money & Direct Tax of India

By | August 31, 2017

Impact of Demonetisation on Black Money, Widening of Tax Base and Direct Tax Collections The Government of India launched a concerted drive against black money with Demonetisation being an important step in that direction. Among the main objectives of Demonetisation was the flushing out of black money and also conversion of the non-formal economy into… Read More »

CA Certificate format for GST Refund under rule 89(2)(m) of CGST Rules

By | August 31, 2017

Certificate format under rule 89(2)(m) of CGST Rules ( Inserted by the Central Goods and Services Tax (Sixth Amendment) Rules 2017.  Notification No 27 /2017 Central Tax Dated 30th August, 2017 ) Certificate [rule 89(2)(m)] This is to certify that in respect of the refund amounting to Rs.<<>> ————– (in words) claimed by M/s—————– (Applicant’s Name) GSTIN/ Temporary… Read More »

Category: GST

GST INV 1 : Generation of Invoice Reference Number for GST e way Bill

By | August 31, 2017

GST INV 1 ( GGST INV 1 inserted in rule 138A of  CGST Rules 2017  and is covered in Chapter XVI  – E-Way Rules : Inserted by the Central Goods and Services Tax (Sixth Amendment) Rules 2017.  Notification No 27 /2017 Central Tax Dated 30th August, 2017 ) FORM GST INV 1 (See rule 138A) Generation of Invoice Reference Number     Related Topic on… Read More »

GST EWB 3 : Verification Report of GST E way Bill

By | August 31, 2017

GST EWB 3 ( GST EWB 3  inserted in CGST Rules 2017  and is covered in Chapter XVI  – E-Way Rules : Inserted by the Central Goods and Services Tax (Sixth Amendment) Rules 2017.  Notification No 27 /2017 Central Tax Dated 30th August, 2017 ) FORM GST EWB 3 (See rule 138C ) Verification Report    Related Topic on GST Topic Click Link… Read More »

GST EWB 1 : E-Way Bill format

By | August 31, 2017

FORM GST EWB 1 (GST EWB 1 read rule 138 of CGST Rules 2017) ( GST EWB 1  inserted in CGST Rules 2017  and is covered in Chapter XVI  – E-Way Rules : Inserted by the Central Goods and Services Tax (Sixth Amendment) Rules 2017.  Notification No 27 /2017 Central Tax Dated 30th August, 2017 ) FORM GST EWB 1 (See rule 138… Read More »

Rule 138D CGST Rules 2017 : Facility for uploading information regarding detention of vehicle

By | August 31, 2017

Rule 138D CGST Rules 2017 ( Rule 138D CGST Rules 2017 explains Facility for uploading information regarding detention of vehicle and is covered in Chapter XVI  – E-Way Rules : Inserted by the Central Goods and Services Tax (Sixth Amendment) Rules 2017.  Notification No 27 /2017 Central Tax Dated 30th August, 2017 ) 138D. Facility for uploading information regarding detention of vehicle.- Where a… Read More »

Rule 138C CGST Rules 2017 : Inspection and verification of goods

By | August 31, 2017

Rule 138C CGST Rules 2017 ( Rule 138C CGST Rules 2017 explains Inspection and verification of goods and is covered in Chapter XVI  – E-Way Rules : Inserted by the Central Goods and Services Tax (Sixth Amendment) Rules 2017.  Notification No 27 /2017 Central Tax Dated 30th August, 2017 ) 138C. Inspection and verification of goods.- (1) A summary report of every inspection of… Read More »

Rule 138B CGST Rules 2017 : Verification of documents and conveyances

By | August 31, 2017

Rule 138B CGST Rules 2017 ( Rule 138B CGST Rules 2017 explains Verification of documents and conveyances and is covered in Chapter XVI  – E-Way Rules : Inserted by the Central Goods and Services Tax (Sixth Amendment) Rules 2017.  Notification No 27 /2017 Central Tax Dated 30th August, 2017 ) 138B. Verification of documents and conveyances.- (1) The Commissioner or an officer empowered by… Read More »

Rule 138A CGST Rules 2017 : Documents and devices to be carried by a person-in-charge of a conveyance.

By | August 31, 2017

Rule 138A CGST Rules 2017 ( Rule 138A CGST Rules 2017 explains Documents and devices to be carried by a person-in-charge of a conveyance  and is covered in Chapter XVI  – E-Way Rules : Inserted by the Central Goods and Services Tax (Sixth Amendment) Rules 2017.  Notification No 27 /2017 Central Tax Dated 30th August, 2017 ) 138A. Documents and devices to be carried… Read More »

New Rule 138 CGST Rules 2017 : New GST e Way Rules

By | August 31, 2017

 New Rule 138 CGST Rules 2017 ( New Rule 138 CGST Rules 2017 explains Information to be furnished prior to commencement of movement of goods and generation of e-way bill and is covered in Chapter XVI  – E-Way Rules : Inserted by the Central Goods and Services Tax (Sixth Amendment) Rules 2017.  Notification No 27 /2017 Central Tax Dated 30th August, 2017 ) 138 Information… Read More »

Notification No 27 /2017 Central Tax : GST E way Rule Notified by Govt

By | August 31, 2017

Notification No 27 /2017 Central Tax Seeks to further amend the CGST Rules, 2017 to substitute Rule 138 with  New Rule 138 for Information to be furnished prior to commencement of movement of goods and generation of e-way bill 138A. Documents and devices to be carried by a person-in-charge of a conveyance. 138B. Verification of documents and… Read More »

GST News 29.08.2017 by TaxHeal

By | August 30, 2017

GST News 29.08.2017 by TaxHeal Related Topic on GST  Topic Click Link GST Acts  Central GST Act and States GST Acts GST Rules GST Rules  GST Forms GST Forms GST Rates GST Rates GST Notifications GST Act Notifications GST Circulars GST Circulars  GST Judgments GST Judgments GST Press Release GST Press Release GST Books Best… Read More »

Govt of India Justified 99% return of Old Currency Notes after Demonetization

By | August 30, 2017

Finance Ministry: Demonetization immensely beneficial to Indian Economy and People  The Government of India decided to cancel the Legal Tender Status of Rs.1000 and Rs.500 denomination currency notes on 8thNovember 2016 with several objectives: (i) flushing out black money, (ii) eliminate Fake Indian Currency Notes (FICN), (iii) to strike at the root of financing of… Read More »

Category: RBI

Circular No 36/2017 Custom : Electronic sealing of containers by exporters

By | August 30, 2017

 Circular no 36/2017 dated 28th August, 2017– Customs Central Government vide Circular no. 36/2017 dated 28th August, 2017– Customs has now prescribed the detailed procedure to be followed while electronic sealing of containers by exporters under self-sealing procedure.  Note : Central government had previously issued Circular No. 26/2017-Customs dated 1st July, 2017 which provided for a simplified procedure for stuffing and sealing of… Read More »

Book Goods and Services Tax Laws, Concepts & Impact Analysis for Traders and Service Providers : August 2017 Edition

By | August 30, 2017

Goods and Services Tax Laws, Concepts & Impact Analysis for Traders and Service Providers  – 3 Aug 2017 by Sanjiv :Malhotra, Sanjeev Agarwal (Author) Yet another classic work from Dr. Sanjiv Agarwal and CA Sanjeev Malhotra analyzing the GST provisions in a comprehensive, analytical and crisp manner with suitable examples divided into three parts. Part A is spread over… Read More »

GST Guide with Ready Reckoner August 2017 Book Bloomsbury

By | August 30, 2017

GST Guide with Ready Reckoner  – 2 Aug 2017 by Rakesh Garg (Author), Sandeep Garg (Author) This book comprehensively discusses the provisions contained in the enacted Central GST Act, 2017, Integrated GST Act, 2017, GST (Compensation to States) Act, 2017 and State GST Act, 2017 along with the Notified Rules (Central GST Rules, 2017/Integrated GST Rules, 2017/State GST Rules, 2017 and… Read More »

Taxmann GST Reverse Charge & Composition Scheme Book

By | August 30, 2017

GST Reverse Charge & Composition Scheme Book 2017 by Vivek Laddha & Pooja Patwari  Price Rs 335 Click to buy online Author : Vivek Laddha  Pooja Patwari Edition : 2017 Edition Date of Publication : Sep. 2017 ISBN No.:9789386635914 Binding : Paperback No. Of Pages : 208 Weight (Kgs) : 0.26   Contents of GST Reverse Charge & Composition Scheme  Related GST Books Related Topic on… Read More »

Credit of Clean Energy Cess allowed for GST Compensation Cess Payment : HC

By | August 30, 2017

HIGH COURT OF DELHI Mohit Minerals (P.) Ltd. v. Union of India S. MURALIDHAR AND PRATHIBA M. SINGH, JJ. W.P.(C) NO. 7459 OF 2017 AUGUST  25, 2017 J.K. Mittal, Rajveer Singh and Nidhi Gupta, Advocates for the Petitioner. Ravi Prakash, CGSC, Nitish Gupta, Farman Ali Advocates and Ms. Aarti Saxena, Deputy Secretary (DOR) for the Respondent. ORDER C.M. No. 30755/2017 (Exemption) 1. Allowed, subject to all just exceptions. W.P.… Read More »

Govt approved increase in GST Compensation Cess rate

By | August 30, 2017

Cabinet approves promulgation of the Goods and Services Tax (Compensation to States) Ordinance, 2017  The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval to the proposal of the Finance Ministry to promulgate an ordinance to suitably amend the Goods and Services Tax (Compensation to States) Act, 2017. The approval would… Read More »

How to clear Samples from Factory after GST ?

By | August 30, 2017

Q.50 What option shall be opted while clearing samples from factory to warehouse location: (a) No GST should be levied but corresponding ITC should be reversed (b) GST should be levied but GST (ITC) paid on samples cleared should be reversed at receiving warehouse location. Ans Depends upon the location of the factory and warehouse. If both… Read More »

Category: GST

GST on Rental Income

By | August 30, 2017

Q.46 Does Rental Income less than Rs. 20 Lakh per annum attract GST? Ans No. That said, where the rental income from a single property is less than Rs. 20 lakh but the aggregate rental income from various properties exceed rupees twenty lakh, the requirement for registration and GST payment will be there.   Related GST FAQ… Read More »

Category: GST

GST on fringe benefits provided to Employees

By | August 30, 2017

Q.43 What kind of facilities provided by employer to employee would be liable to GST? For instance, whether club membership provided will be considered as” service”? Ans The compensation to employees in the form of money is not a supply. However, fringe benefits are supply of goods or services and are liable to tax if not exempted.… Read More »

Category: GST

Charge GST on labour charges in an invoice

By | August 30, 2017

Q.41 Should GST be charged on labour charges in an invoice? Ans Yes, if the activity is taxable. Related GST FAQ GST FAQ on Composition, Exports, Invoice and Returns , Job Work ,Levy Related Topic on GST  Topic Click Link GST Acts  Central GST Act and States GST Acts GST Rules GST Rules  GST Forms GST Forms… Read More »

Category: GST

Pay GST on Penal Interest on loans and advances

By | August 30, 2017

  Q.37 Clarification is sought for the following under GST: Penal Interest on loans and advances Ans Penal interest is a consideration for tolerating an act and it is a supply of service and will be taxable. Related GST FAQ GST FAQ on Composition, Exports, Invoice and Returns , Job Work ,Levy Related Topic on GST  Topic… Read More »

Category: GST

How to claim GST ITC on pure labour Contract

By | August 30, 2017

Q.35 How a service Provider can get input GST credit benefit in pure labour Contract under Input Credit? Ans He needs to use input for furtherance of business and should fulfill the conditions mentioned in section 16 of CGST Act, 2017. The input should not fall within the negative list provided in section 17(5) of the CGST… Read More »

Category: GST

GST ITC on building construction after 01.07.2017

By | August 30, 2017

Q.33 What will be the Input Credit of newly launched project of building construction after 01.07.2017? Ans ITC is permitted to pay output tax of construction/work contract services. Please see Section 17(5)(c) and (d) of CGST Act, 2017.     Related GST FAQ GST FAQ on Composition, Exports, Invoice and Returns , Job Work ,Levy Related Topic… Read More »

Category: GST

No Refund of GST ITC if no tax on output supply

By | August 30, 2017

Q.30 Since our products are under 0% and we are using various services like telephone, professional charges for which we will be paying GST to our registered service providers and this amount will not be utilized towards any payment of outward goods. Are we eligible for refund on the services obtained and GSTN paid for the… Read More »

Category: GST

GST credit for clean energy cess cannot be taken

By | August 30, 2017

  Q.29 How should importers take credit of clean energy cess paid on goods lying as stock 30.06.2017? Ans No credit for clean energy cess can be taken. Related GST FAQ GST FAQ on Composition, Exports, Invoice and Returns , Job Work ,Levy Related Topic on GST  Topic Click Link GST Acts  Central GST Act and States… Read More »

Category: GST

Should GST TDS be deducted if supplier is under exemption / Composition

By | August 30, 2017

Q.28 Please clarify ITC Credit status for the following condition: if Commission received Without Deducting GST in cases where distributor under Exemption or composition Scheme? Ans The section concerning GST deduction (Section 51 of CGST Act, 2017) has not been operationalized till now. But if the distributor is under threshold exemption or under composition scheme, the requirement… Read More »

Category: GST

How to Claim GST ITC credit of GST TDS ?

By | August 30, 2017

Q.27 Please clarify ITC Credit status for the following condition: On GST Deducted Commission for Distributor registered under GST Taxpayer? Ans Any deductions under TDS/TCS provisions from amount paid or credited to the supplier shall be credited to the electronic cash ledger which can be used for payment of tax. Related GST FAQ GST FAQ on Composition,… Read More »

Category: GST

GST ITC cess can be used only for payment of cess

By | August 30, 2017

  Q. 25 Please clarify the procedure of availing ITC on Additional Compensation Cess on some products like Tobacco, Coke, Cigarettes. Ans ITC of cess can be used only for payment of cess Related GST FAQ GST FAQ on Composition, Exports, Invoice and Returns , Job Work ,Levy Related Topic on GST  Topic Click Link GST Acts… Read More »

Category: GST

No effect on GST ITC of Selling Goods to unregistered/exempted dealers

By | August 30, 2017

Q.24 How can a trader avail ITC while selling goods/services to unregistered/exempted GST traders? Ans The fact that a registered person is supplying goods to an unregistered or exempted person has no consequence on availment of ITC by the supplier. Related GST FAQ GST FAQ on Composition, Exports, Invoice and Returns , Job Work ,Levy Related Topic… Read More »

Category: GST

How to revise GST Returns

By | August 30, 2017

Q.23 Clarification is sought on the following: Revision in GSTR Returns Ans Mistakes can be corrected in subsequent returns to be filed through amendment Table (For example Table 11 of GSTR-1). Such mistakes can be corrected till the due date for filing of the return for the month of September subsequent to end of the year or… Read More »

Category: GST

How to send equipment to factory for repairs after GST

By | August 30, 2017

Q.22 How to send equipment and instruments to manufacturers’ factory for repairs and calibration with in India on returnable basis? – No sale is involved. Ans Challan for movement of goods without supply is to be issued in terms of Rule 55 of CGST Rules.   Related GST FAQ GST FAQ on Composition, Exports, Invoice and Returns… Read More »

Category: GST

How to send Demo Material to Customers after GST

By | August 30, 2017

Q.21 Under GST, how to send demonstration equipment and instruments to customers or branch offices with in India on returnable basis? – No sale is involved Ans As the goods are sent on returnable basis and no transfer of title is involved, it is not a supply of goods. If some element of service is involved, the… Read More »

Category: GST